NYSHEX provides improved visibility while keeping product flowing.
For the #1 faucet brand in North America, the #1 challenge is visibility. They need data solutions that enable them to understand what is truly happening in the ocean cargo market. It’s hard to know who to believe when carriers say that space is tight, yet at the same time the spot rate is low and it seems quite easy to secure space. For Moen, it can be hard to tell what’s fact and what’s fiction and not knowing impacts their ocean freight strategy.
Moen’s #2 challenge is the increasing complexity of managing supplier capacity and capability, and trying to minimize overall inventory. Having a consistent and reliable transit time is crucial for the businesses that rely on having product arrive on specific dates and the end customers they serve.
Moen joined NYSHEX to address these two challenges. Moen likes to have multiple solutions and sailing options for all suppliers to ensure product moves when it is ready. NYSHEX provides them with options and an ability to secure their shipments. One of the things Moen really likes about NYSHEX is that it gives actual insight into what is happening and what rate and space levels are available several weeks to a few months in the future. There is no guessing or assuming.
Moen has begun using NYSHEX as a part of their ongoing strategy—a new channel to contract space. Doing so has allowed them the opportunity to take advantage of excess weekly cargo being shipped at current rates. For example, as Chinese New Year approached, they looked ahead and felt it was important to lock in extra capacity prior to the holiday. NYSHEX enabled them to enter the Chinese New Year already knowing they have protected critical shipments.
“We now look at NYSHEX as a part of our ongoing strategy, a new channel for us to contract space,” said Michael Bauer.
“NYSHEX is a very innovative, but simple concept. I would recommend that any shipper seeking true visibility should take a long look at how NYSHEX could work for them. It is easy to use - from agreeing to purchase space, through to booking and the shipment process - it is an excellent tool to ensure cargo moves as planned.”